Cambodia Investment Review

Forte Awarded Cambodia Executive of the Year and Team of the Year at the Asian Management Excellence Awards 2024

Forte Awarded Cambodia Executive of the Year and Team of the Year at the Asian Management Excellence Awards 2024

Cambodia Investment Review

Cambodian insurance group, Forte, emerged with two prominent awards at the Asian Management Excellence Awards held in Bangkok on 23 January. Mr. Youk Chamroeunrith, Group CEO of Forte Group, was recognized as ‘Executive of the Year – General Insurance (Cambodia)’, a testament to his exceptional leadership and dedication to the industry. It represents the first time a Cambodian business leader has been acknowledged with such a distinction at the awards. Simultaneously, Forte’s management team was awarded ‘Team of the Year (Cambodia)’, reflecting the collective effort and strategic expertise that have become the hallmark of their success.

Mr Youk Chamroeunrith, Group CEO of Forte Group with his spouse, Mdm Oum Sokunthea, together with representatives of Forte’s management team – Mr Pin Nirorn, Group CFO, Mr Suy Channtharong, CEO General Insurance, and Mr Kheang Ratanak, Head of Auto Dept.

Reaching its 25th anniversary this year, Forte celebrates this significant milestone with the two awards, symbolizing its commitment to Cambodia’s insurance sector since 1999. Mr. Youk Chamroeunrith has been pivotal from the start, alongside Founder Mr. Carlo Cheo and Group Executive Chairman Mr. Charles Cheo, in establishing Forte’s dominant 45% market share in the nation’s general insurance market for more than 20 years.

Read more: Leader Talks with Youk Chamroeunrith on Cambodia’s developing insurance industry and Forte’s recent brand refresh

With over 30 years of experience in insurance and risk management, Mr Chamroeunrith began his career at Forte in 1999 as Head of Operations and swiftly progressed through various underwriting and strategic roles through the years. His recognition as Cambodia Executive of the Year is a testament to his years of commitment to innovation and customer centricity, strengthening Forte’s position as an industry leader.

Mr Youk Chamroeunrith, accepts the Cambodia Executive of the Year – General Insurance award.

The award for Cambodia Team of the Year reflects the management’s continuous commitment to building capacity in people and protecting families in Cambodia and Laos. Forte currently covers nearly 1 million lives and has made significant progress to increasing access to auto, health, medical, life and agriculture insurance coverage.

In recent years, the management team has worked hard to shift Forte’s business model towards consumer lines. As part of this strategy, they have continually developed innovative solutions to improve their customer experience. In addition to this, the management team has given significant importance to developing and nurturing its employees, with some serving with Forte for two decades or more.

“I am honored to have been awarded Cambodia’s Executive of the Year and our management team recognized as Cambodia’s Team of the Year by the Asian Management Excellence Awards. It has been a long journey for both Forte and myself and I am extremely proud of how far we have come. My goal has always been to help people in our region understand the important role that insurance and financial planning plays in leading a happy and confident life. On behalf of Forte’s management team, I would like to thank the Asian Management Excellence Awards for the recognition and most importantly, to thank our loyal customers for being a part of this incredible journey,” shared Mr Youk Chamroeunrith.

Mr. Youk Chamroeunrith delivered a thank-given speech during the event.

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